Musakwa externalised $9 million according to Mnangagwa list

Musakwa externalised $9 million according to Mnangagwa list
Published: 19 March 2018 (333 Views)
FORGOTTEN gospel musician and Zanu-PF activist, Elias Musakwa, has been named in the list of companies and individuals who externalised funds and have not heeded President Emmerson Mnangagwa's call to returns the funds.

Musakwa who at one point owned Gramma Records, Ngaavongwe Records and the Zimbabwe Music Corporation, according to the list, externalised $9 million to Portugal.

Musakwa acquired Gramma Records together with the late former air marshal, Josiah Tungamirai. His musical empire incorporates Ngaavongwe Records (formerly Gramma), Mosi-a-Tunya Studios, Shed Studios and the Zimbabwe Music Corporation.

Musakwa joined active politics in 2007 after resigning from the Reserve Bank of Zimbabwe (RBZ) where he was a divisional head. On three occasions, Musakwa failed to represent the people of Bikita West on a Zanu-PF ticket.

President Mnangagwa said he was left with no choice but to prosecute those who did not respond to the amnesty, describing them of having abandoned the "importance of good corporate governance and the legal obligations of citizenry".

He added that the Reserve Bank of Zimbabwe (RBZ) is still open to process transactions where the concerned parties can show proof of declaration and/or repatriation of funds without prejudice given the burden of proof lies with the concerned parties.

- Byo24News

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